Global Markets News Briefing — 19 August 2026
- Nasdaq closed 1.33% lower at 29515 on 18 August, its third consecutive declining session. Semiconductor and AI-linked names led the retreat as long-dated yields surged: the 10-year Treasury yield pushed toward 4.75% while the 30-year climbed above 5.33%, its highest since 2007. CoreWeave fell 8.3%, Teradyne 8% and Lumentum 7.7%, while Targa Resources gained 6.7% on new midstream agreements with ExxonMobil subsidiaries and Intuit rose 4.4%. Separately, Disney’s ABC filed a First Amendment lawsuit against the FCC over its early licence-renewal review. Minutes of the Federal Reserve’s July meeting are due later today, ahead of Chair Kevin Warsh’s Jackson Hole remarks next week.
- DAX closed lower on 18 August, with the DAX down 0.71%, the MDAX off 1.42% and the TecDAX 0.78% weaker, led by technology, construction and industrial losses. Infineon fell 7.63%, Siemens Energy 5.23% and Heidelberg Materials 2.99%, while Bayer rose 1.75%, Deutsche Telekom 1.66% and SAP 1.63%. It was a second straight decline, taking the index to levels last seen on 6 August, with higher oil prices, rising bond yields and the lapse of the US-Iran interim agreement cited as drivers.
- Nikkei fell 2.9% to about 65,150 on Wednesday and the Topix declined 2.4% to 4,040, a second consecutive loss as the semiconductor selloff intensified. Tuesday’s close was 66060, down 2.54%, as Japan’s 10-year government bond yield reached roughly 2.95%, a three-decade high, amid fiscal concerns and expectations of a Bank of Japan rate increase. The Takaichi administration’s plan to cut the food consumption tax to 1% for two years, without an identified replacement revenue source, has added to those concerns.
- Gold traded below $4,325 an ounce on Wednesday after falling nearly 2% in the previous session, pressured by elevated global bond yields and firmer oil; silver fell 0.9% to $62.92 and the Dollar Index was little changed at 99.67.
- Brent rose for a fourth consecutive session on Wednesday, trading near $91.68 against a previous close of $91.30, as the US-Iran standoff over the Strait of Hormuz continued. The June memorandum of understanding expired on Monday and President Trump declined to seek an extension; a projectile struck a vessel leaving Hormuz on Tuesday, with transits still in single digits.

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Gold: Fed Minutes Could Set the Next Move
- Gold rebounds: Spot gold gained 0.5% to $4,356, recovering after Tuesday’s nearly 2% sell-off.
- Yields ease: U.S. Treasury yields pulled back from earlier highs, providing support for non-yielding gold.
- Fed minutes in focus: July FOMC minutes are due at 18:00 GMT and could provide fresh clues on the Fed’s next move.
- September pricing: Markets currently see a 64% probability of a Fed hold versus 36% for a rate hike in September.
- Soft U.S. data matters: Recent weaker economic data has reduced expectations for another Fed hike, supporting precious metals.
- Geopolitical risk remains: Uncertainty surrounding the Strait of Hormuz continues to keep oil and broader geopolitical risk firmly on investors’ radar.
- Silver: Silver slipped 0.4% to $63.03, while platinum rose 0.5% to $1,720.



